Benchmarking for NFPs has always been an important but much-ignored process. Thanks to the London Benchmarking Group (LBG), a new benchmarking framework that will allow Not for Profits (NFPs) to measure the impact of their achievements in the community has launched in Australia and New Zealand. This new framework will provide data-based evidence that NFPs require to get support from their corporate partners.

This benchmarking process has much interest in the NFP sector as it primarily helps to create a common language between non-profits and their corporate partners. Not only will NFPs be better equipped to approach corporate partners, it will enable them to focus on growing the business and seek future investors.

This new strategic vision has the potential to improve more efficient management and implementation and create a common language for NFPs. Impact indicators are necessary parts of regular assessments and while, in its pilot phase at present, the benchmarking framework is expected to be broadly available to NFPs in 2017. LBG Australia is currently seeking interest from NFP organisations interested in participating in a 12-month trial.

Based on LBGs own corporate measurement tools and first trialled by LBG Spain, it looks to be a cost-effective option for NFPs.

Failing to have any kind of measurement framework that can help with decision making and sourcing of corporate partners for NFPs is a recipe for stagnation and non-growth. Unfortunately little attention has been given to this area in the past; however, this will change due to the seemingly high demand in the industry.

Community investment for corporates should be aligned with organisational objectives and values and any NFP looking to increase investors need to be able to demonstrate certain principles and information. Their ability to effectively share their objectives and accurate benchmarking information will hold them in good stead for future and long-term corporate partnerships.